Awards and Disbursements

All financial aid awards are subject to adjustment based upon the availability of funds, enrollment status, any supplemental assistance that one might receive, changes in information, and being in compliance with the Galveston College Satisfactory Academic Progress (SAP) requirements for receiving Financial Aid. Awards are automatically canceled if any false representation has been made. Estimated funds that are scheduled to be disbursed are listed by type, amount, and semester. If loans are listed, your lender will notify you when your loan is approved.

HOW YOUR EXPECTED NEED IS DETERMINED

Your expected financial need is the difference between the Cost of Attendance (COA) at Galveston College and the Expected Family Contribution (EFC). The COA is determined by Galveston College and includes tuition, fees, books, supplies, room, board, transportation and miscellaneous expenses. Your EFC is determined by a government formula that is applied against your family's income and assets as reported on the FAFSA. By subtracting the EFC from the COA, estimated financial need is determined.

1) Cost of Attendance (Budget)

The Following is a typical budget (1 semester at 15 credit hours) for a student attending Galveston College

*Estimated charges paid to school. All other budget items are living costs and are not paid to the school.

 

Not Living with Parents

(In District)

Dependent Living with Parents (In District)

* Tuition/Fees

$950

$950

* Books/Supplies

$446

$446

Room/Board

$2922

$1371

Miscellaneous

$1033

$792

Transportation

$871

$871

Total

$6222

$4430

2) EFC (Estimated Family Contribution)

The amount listed on the Award Letter is what the family is expected to contribute financially to the student's cost of attendance (including living expenses) during the budget duration. If you are considered an independent student (parents information is not required on the FAFSA), the family contribution is only from the student's resources.

3) Aid Awarded

This is the total estimated aid you are scheduled to receive.

4) Remaining Need

This is your remaining financial need after subtracting the estimated financial aid.

CHANGE IN YOUR INFORMATION

Awards are based on the information provided on your application for aid, the FAFSA. You must promptly report, in writing, any change to that information to the Financial Aid Office.

ENROLLMENT STATUS/CLASS ATTENDANCE

Federal regulations require that your enrollment status and class attendance be verified prior to your receipt of aid.

REFUND AND REPAYMENT

Students who register, then withdraw, drop-out, expelled or receive the grade of AWN for non-attendance are subject to Federal Refund and Repayment Policy, as well as Galveston College policies found in the college catalog.

ENROLLMENT STATUS

Enrollment Status is determined on the 12th class day (census date) and is defined as follows:

  • Full-time 12 or more hours
  • Three-quarter time 11-9 semester hours
  • Half-time- 8-6 semester hours
  • Less that half-time- 5-1 semester hours

DISBURSEMENT OF FUNDS

(A) Charging Your Expenses- If awarded, you may charge tuition and fees to your Pell Grant and other grants and certain scholarships at the time of registration. You may also charge books and supplies during the period of time designated by the College- usually for one week before the 1st day of class through the 1st 2 weeks of classes. Students wishing to charge their books/supplies must bring a student ID.

(B) Debts- Any debt owed by you to Galveston College will be deducted from any financial assistance, except Federal Work Study or Texas Work Study, that you are scheduled to receive before a balance check is mailed to you.

(C) Financial Aid Checks- Before any check is released, your eligibility, including enrollment status, must be verified. Work-study checks are the exception to this rule.

**Since loan funds are sent electronically via Electronic Funds Transfer (EFT), the actual release dates may vary.

PLEASE UPDATE THE MAILING ADDRESS WITH THE ADMISSIONS OFFICE to eliminate mailing delays of your refund checks.

STUDENT FINANCIAL AID PROCEDURES

(A) Under Federal policy, only 30 hours of noncredit/ developmental course work can be taken into account when determining a student's enrollment status and cost of attendance for financial aid eligibility.

(B) Students who have defaulted on a federal loan or owe a refund on a federal grant may not receive official academic transcripts until they have been consulted by a Financial Aid representative on options to bring their loan(s) current.

(C) All documents submitted in support of your financial aid become the property of Galveston College and can not be returned to you. Please make copies before you submit them.

MULTIPLE AWARDING OF FEDERAL AID

It is against federal regulation for a student to receive federal aid at more than one institution during the same enrollment period.

Disbursement of Student Loans

  • Loans will be released in two or more disbursements.
  • No check will be released prior to the census date.
  • First-time borrower's loans will not be disbursed to Galveston College until 30 days after the first day of class.
  • According to Federal guidelines, Galveston College has 14 business days to distribute refund checks to the student from the disbursement date.
  • Only hours competed at Galveston College will be taken in to consideration to determine loan eligibility. 
  • The lender will notify you when the loan application is processed and provide the scheduled disbursement dates.
  • The disbursement date is the date the lender is scheduled to send the funds to Galveston College. Funds are not released until eligibility is confirmed.
Updated 11/13/2013 - Content Author mnash